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The Value Report - Machen McChesney Business Advisory Insights

At Machen McChesney we are committed to Returning Value to you through our monthly e-newsletter, The Value Report.

Here you'll find regular tips to help with your business and personal finances, as well as strategies to grow and more efficiently run your organization. 

Table of Content
  1. Seven Timely Individual Tax Moves in 2016
  2. 5 Year-end Ideas for Your Business
  3. Complying with the New Overtime Pay Rule
  4. Key Points About Key Person Insurance
  5. IRS Simplifies the Process for Correcting Late Rollovers between Retirement Accounts
  6. FASB Issues ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities
  7. What's New at Machen McChesney
  8. Did You Know?...

Seven Timely Individual Tax Moves in 2016

iStock_69423535_LARGE-212291-edited.jpgUndoubtedly, the national elections will have an impact on personal taxes for years to come. But it is unlikely that a lame-duck Congress will enact changes that will significantly affect tax planning for 2016. Accordingly, here are seven tax moves for individuals to consider at the end of this year. Continue reading

5 Year-end Ideas for Your Business


Remember that year-end planning is not just for individuals (see Seven Timely Tax Moves in 2016). In fact, your business operation may benefit from tax moves in 2016 in the wake of several key extensions in the Protecting Americans from Tax Hikes (PATH) Act of 2015. Here are five ideas for small-business owners to consider. Continue reading

Complying with the New Overtime Pay Rule
iStock_67160551_LARGE-393742-edited.jpgThe "final rule" on overtime pay, long anticipated by the business sector, was issued by the U.S. Department of Labor (DOL) this spring. However, changes in the regulations do not formally take effect until December 1, 2016. Because of that, employers till have time to make the adjustments necessary to be in full compliance. Continue reading

Key Points About Key Person Insurance

iStock_36872576_LARGE-014383-edited.jpgVirtually every business owner will tell you it takes more than one person to build up and maintain a profitable business. In fact, it is likely that several “key employees” have contributed to the success of any given operation. However, while a business owner may be careful to make sure that he or she is adequately insured, the need to protect the business against the loss of key employees is often ignored or disregarded, which is a mistake. Continue reading

IRS Simplifies the Process for Correcting Late Rollovers between Retirement Accounts.


Issued August 24, 2016, Rev. Proc. 2016-47 simplifies the process for correcting late rollovers from one tax-qualified retirement account to another. The guidance provides plan administrators and IRA trustees with an additional basis for accepting rollover contributions after the 60-day deadline. Continue reading

FASB Issues ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities.


The Financial Accounting Standards Board (FASB) released the Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities on Aug. 18, and you can read the full ASU here. Continue reading.

What's New at Machen McChesney?

iStock_41667068_LARGE-822670-edited.jpgSponsorships, new hires, announcements
Continue reading.

Did You Know? ...

family-office-hi-res_ID_85157.gifMachen McChesney offers a full range of Family Business Services for professionals and cherished family members. These personal accounting and “life” management services help busy professionals keep on top of daily financial tasks, and they enable cherished family members to maintain their independence and financial freedom. Our Family Business Services clients receive assistance with financial, business and related duties and are kept informed via communications and reports which are also available to authorized care givers.

When day-to-day tasks such as bill paying, balancing a checkbook or responding to an emergency need become overwhelming or unattended to, you can rest assured knowing our Family Office Services professionals have been engaged to take care of it.

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We hope you found value in The Value Report you've received this month. We look forward to finding even more ways to Return Value to you in the future. 

Please feel free to visit our website or visit our blog at any time during the month to interact with additional valuable resources and helpful information.
If you have any questions on the topics above, please feel free to send us a message.
Machen McChesney 
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